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Should I take out my children's savings?

26 replies

nickthefox · 04/06/2022 09:27

I put in £50 for my children into a savings account in 2019.
i haven't been in a position to add to it at all.

They have made less than a pound in interest over 3 years. Should I just take it out? 50 is worth considerably less now than it did when we put it in.
I'll probably never be able to add to it.

OP posts:
Chaoslatte · 04/06/2022 15:53

@nickthefox finance is all about balancing risk and return. At the moment you have taken no risk so are getting no return. If you want a slightly higher return, you need to take slightly more risk. I’d stick it in a tracker fund - these are fairly low risk as they basically expose you to the whole market you’re tracking rather than the fortunes of individual companies, so there’s less volatility.

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